Mr. Munkhzul, 41 years old, lives with his wife and two children in Ulaanbaatar, capital of Mongolia. The family resides in a rental apartment. He has been selling automobile spare parts since 2011 and has accumulated a vast amount of experience in collecting his products from Korea and selling them to customers. Before this business, he worked in Korea on an employment contract between Mongolia and Korea.
Munkhzul is requesting a loan of 3,000,000 MNT to purchase spare parts from Korea in order to expand his business by opening a second shop. As a result, he will be able to generate more income for his family and invest in his children's university education. The borrower is very hardworking individual who values his family above all.
About Credit Mongol
Credit Mongol is the largest non-banking financial institution (NBFI) in Mongolia. Its mission is to contribute to the prosperity of Mongolians by providing high-quality, affordable and varied financial services to micro-entrepreneurs and small-to-medium-sized businesses. It prioritizes serving remote, rural populations that have typically lacked access to credit and other financial services. Uniquely, it offers solar panel loans to nomadic herders, most of whom live without electricity.